AGCS in groundbreaking captive blockchain trial

AGCS in groundbreaking captive blockchain trial

AGCS in groundbreaking captive blockchain trial

Blockchain technology for a global captive insurance programme, including cash transfer between countries, has been successfully trialled by Allianz Global Corporate & Specialty (AGCS). Blockchain technology creates a much faster, transparent, secure and efficient means of distributing information, conducting business processing and recording transactions across multiple parties. The AGCS prototype automatically connects all parties involved in the captive insurance programme…

Eberhard Faller wins European Risk Manager of the Year

Eberhard Faller wins European Risk Manager of the Year

Eberhard Faller wins European Risk Manager of the Year

Eberhard Faller, senior vice-president of central insurances at BASF, was named European Risk Manager of the Year at a gala dinner in London last night. He took the leading prize on an evening when winners of the other Excellence in Risk Management categories were announced, along with those from the Excellence in Customer Services and Individual Achievement shortlists. Mr Faller,…

Ferma campaign to defend captives forges ahead

Ferma campaign to defend captives forges ahead

Ferma campaign to defend captives forges ahead

The organisation for Economic Co-operation and Development’s (OECD) project to tackle base erosion and profit shifting (BEPS) is a major concern to many risk and insurance managers with captives, but Ferma’s campaign to dispel misperceptions about captive insurance companies is making progress. The OECD’s aim of stamping out the worst excesses of corporate tax avoidance is laudable, but it was…

Ferma building bridges at home and abroad to deliver for members

Ferma building bridges at home and abroad to deliver for members

Ferma building bridges at home and abroad to deliver for members

Ferma is working with european, regional and global risk management associations, as well as the wider risk transfer community, to deliver on its strategic mission to increase leadership in risk management and enhance the profession’s influence. Ferma has been focusing on its new strategic vision during the past year. According to Typhaine Beaupérin, the federation’s CEO, this vision came about…

Marsh appoints president of Marsh Captive Solutions

Marsh appoints president of Marsh Captive Solutions

Marsh appoints president of Marsh Captive Solutions

Ellen Charnley has been appointed as president of Marsh Captive Solutions, which manages more than 1,200 captives in 44 domiciles worldwide. She has more than 20 years of captive industry experience, and most recently served as the global sales leader of Marsh Captive Solutions and other consulting businesses within Marsh. Prior to that, she was responsible for Marsh’s West Zone…

Online betting operator Lottoland forms Gibraltar captive

Online betting operator Lottoland forms Gibraltar captive

Online betting operator Lottoland forms Gibraltar captive

Online lotto betting operator Lottoland has formed a captive insurer in Gibraltar to underwrite all the bookmaking risks of Lottoland. The captive, Fortuna Insurance PCC Limited, has been granted an insurance licence by the Financial Services Commission (FSC) in Gibraltar in accordance with EU insurance legislation. Lottoland said it is the first and only company in the gaming sector to…

Mercer completes £3.4bn longevity risk transfer for MMC’s UK pension fund

Mercer completes £3.4bn longevity risk transfer for MMC’s UK pension fund

Mercer completes £3.4bn longevity risk transfer for MMC’s UK pension fund

The largest longevity risk transfer for a UK pension fund since 2014 has been completed in Guernsey by Mercer, a wholly owned subsidiary of Marsh & McLennan Companies (MMC). The longevity hedge has been completed covering about £3.4bn of liabilities for some 7,500 pensioner members of the MMC UK Pension Fund. The longevity risk was transferred, without the payment of…

Marsh forms new collateralised reinsurance platform in Bermuda

Marsh forms new collateralised reinsurance platform in Bermuda

Marsh forms new collateralised reinsurance platform in Bermuda

A new segregated account company (SAC), Cerulean Re SAC Ltd, has been formed in Bermuda through a joint venture between GC Securities (as arranger) and Marsh Captive Solutions (as insurance manager to Cerulean), both Marsh & McLennan Companies business units. According to GC Securities, Cerulean Re, a private syndicated collateralised reinsurance platform, “provides an efficient and cost-effective placement process for…

Finalists of European Risk Management Awards announced

Finalists of European Risk Management Awards announced

Finalists of European Risk Management Awards announced

The finalists of this year’s European Risk Management Awards’ Excellence in Customer Services categories, which aim to reward and promote best practice and innovation among companies that serve the risk management community, have been announced. Following deliberation by our judging panel of prominent members from European and international risk management associations, a list of finalists for each of the seven…

Solvency II interpretation threatens Germany as viable captive option: Mahnke

Solvency II interpretation threatens Germany as viable captive option: Mahnke

Solvency II interpretation threatens Germany as viable captive option: Mahnke

GVNW president Alexander Mahnke is concerned that the strict interpretation of captives under Solvency II in Germany means German companies may have to rethink whether their home country is the best domicile for such risk transfer vehicles. Mr Mahnke told Commercial Risk Europe that the risk management community must do better when it comes to articulating their wishes and concerns…

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